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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Lalit Jain who wrote (26732)9/7/1997 3:46:00 PM
From: Walter   of 28369
 
Lalit Jain: I can not believe a person with engineering and MBA degrees and supposedly so much investment savvy wrote this:

"Another point I would like to bring up is that the media always talks about the 6 billion
lost by Bre-X investors. What about the 6 billion dollars made (Bre-X insiders made
peanuts compared to others). And don't forget about the governments raking in the
billions in Capital Gains taxes."

1) For instance, you buy a stock at $1 and the same stock goes to $10 and you never sold any of it. At $10, the stock exchange halts the stock because it is a total fraud and the stock is delisted and becomes worthless. Here is the question: did you or any other similar shareholders make money and had to pay capital gain taxes. How the hell was $6 billion made?

2) How many people, other than insiders, can you name who made $30 million and up on this scam? Greg Chorny may possibly be the only one out of thousands of shareholders who were not insiders. This means less than 0.1% of all shareholders. On the other hand, how many insiders made tens of $ millions. My guess is at least 50% of the insiders accomplished this. Walsh and company made peanuts eh? Total 100% nonsense.

Please do your alma mater a favor and DON'T disclose it!
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